December 8, 1999
TSE:TKE
12g3-2(b):82-3297
NEWS RELEASE
TUSK Energy Inc. (TSE:TKE) announces that Calvin G. Gabel has resigned as Vice President Exploration to pursue other business interests. Mr. Gabel may be reached at the TUSK office until December 17, 1999.
TUSK is a junior oil and gas company with approximately 700 boepd in current production. TUSK's main producing area is Meekwap, Alberta which represents approximately 84% of total production. Another important project to the Company is Strachan where a Slave Point gas well, discovered in 1998, went on production in mid-October. A decision on the location for additional drilling to evaluate the potential of the deep objectives (Leduc & Swan Hills/Slave Point) will be made around the end of the year.
The pace of TUSK's drilling program has accelerated in the past few months. After drilling only three wells (all gas wells) in the first nine months of the year, TUSK will participate in at least 7 wells during the fourth quarter. Two of these, both at Meekwap, Alberta, have already been drilled resulting in one oil well (0.17 net) and one dry hole (0.42 net). Completion work on the new Meekwap oil well will commence later this week. The other five, three on gas prospects and two on oil prospects, will be drilled in December.
Contact:
Norman W. Holton, President
TUSK Energy Inc.
1950, 700-4th Avenue S.W.
Calgary, Alberta, T2P 3J4
Bus: (403) 264-8875
Fax: (403) 263-4247
e-mail: tusk@tusk-energy.com
www.tusk-energy.com
tusk\tusnews.099
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